June 11, 2013 / 9:52 AM / 6 years ago

Poland to cut power prices for households by 3.9-4.6 pct-regulator

WARSAW, June 11 (Reuters) - Poland’s energy market regulator URE agreed for local utilities to cut electricity prices for households by 3.9-4.6 percent starting from July, the head of URE said on Tuesday.

Poland’s No.2 utility Tauron said last week it would lower power prices for households by 4.55 percent on average.

The regulator’s decision on Tuesday applies also to three other local power companies - PGE, Enea, and Energa.

Poland will have to tread carefully to avoid comparisons with Hungary, where populist Prime Minister Viktor Orban forced power companies to slash energy prices by 10 percent in January.

Economists say the cuts there helped pull the economy out of recession by putting money back into people’s pockets, but some institutions, including the International Monetary Fund (IMF), warn that the enforced cut has also damaged investor sentiment. (Reporting by Pawel Bernat; Writing by Agnieszka Barteczo)

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